Fairfax COO departs for PMP

Page Tools

Printing business PMP Ltd and media group John Fairfax
Holdings have swapped another top executive, with the appointment
of Brian Evans as PMP's new chief executive.

Mr Evans is currently Fairfax's chief operating officer.

He'll replace David Kirk, who was selected in August to come
across to Fairfax - owner of The Age - as the group's CEO,
with the former All Blacks captain to now assume Mr Evans'
responsibilities.

The move is viewed as another step towards strengthening the
relationship between the two media groups, though investors are
withholding judgment until they see how the men settle into their
new roles.

PMP chairman Graham Reaney said Mr Evans would bring to PMP vast
experience in printing and marketing services and a knowledge of,
and personal association with, PMP's main customer base.

Mr Evans said he looked forward to growing PMP.

"I am excited to be joining PMP at this critical time in the
restructuring process which should lead to improved customer
service, increased shareholder returns and a more rewarding
environment for staff," he said in a statement.

Fairfax chairman Ron Walker paid tribute to Mr Evans.

"Brian has been with Fairfax for 12 years and during that time
he has performed with distinction. We thank him for his
contribution and wish him well in his new role," he said in a
statement to the Stock Exchange.

Mr Evans will start in his new position on October 31, with a
base remuneration of $900,000 per annum.

His service agreement is for an initial term of four years, with
a one year option.

Mr Kirk is leaving the role this Friday.

He was previously expected to start at Fairfax on November 21,
replacing long-time chief executive Fred Hilmer, but the group
today brought forward the starting date to October 17.

Constellation Capital Management media analyst David Maywald
said the announcement may be an example of a trend within the media
sector in Australia and New Zealand.

"There are signs of an increasing relationship within the
magazine, newspaper printing and publishing industries," Mr Maywald
noted.

However he said it was too early to say whether the appointment
would change his views on PMP.

"We will see what Brian has to say once he has some time to look
at the business," he said.

CMC Markets senior dealer James Foulsham said it appeared
investors were mulling over the news, with the major broking firms
holding back from making big trades in PMP so far.

"There may be more of an impact in the next couple of days as
the fund managers weigh it up," Mr Foulsham said.